JK Lakshmi Cement invests ₹24 crore in solar SPVs for captive power
JK Lakshmi Cement Limited approved an investment of up to ₹24 crore on 4 June 2026 to acquire 26% equity stakes in DynoSpark Private Limited and Elevate Solar Energy Private Limited. The investment aims to establish captive solar power plants at the Udaipur and Durg units, with capacities of 25 MW (AC)/36.25 MW (DC) and 17.14 MW (AC)/24 MW (DC) respectively. The transactions, involving cash consideration of up to ₹16 crore and ₹8 crore, are expected to be completed by 31 October 2026.
*this image is generated using AI for illustrative purposes only.
JK Lakshmi Cement Limited has approved an investment of up to ₹24 crore to acquire 26% equity stakes in two Special Purpose Vehicles (SPVs) — DynoSpark Private Limited and Elevate Solar Energy Private Limited — to secure captive solar power for its manufacturing units. The Committee of Directors sanctioned the proposal on 4 June 2026, enabling the company to reduce power costs through renewable energy sourcing. The total investment involves up to ₹16 crore for DynoSpark and up to ₹8 crore for Elevate Solar, with both transactions expected to be completed by 31 October 2026.
Strategic Expansion into Renewable Energy
The initiative involves setting up solar power plants at the company's Udaipur and Durg units under the captive power route. For the Udaipur Unit, the project entails a 25 MW (AC)/36.25 MW (DC) Solar Power Plant with a 20 MWh Battery Energy Storage System (BESS). The Durg Unit will host a 17.14 MW (AC)/24 MW (DC) Solar Power Plant. Oriana Power Limited will serve as the project implementor for the Udaipur facility, while M/s Evolve Energy Group will handle the Durg facility. These projects will allow JK Lakshmi Cement to procure solar power at competitive market rates.
Financial Details of Target Entities
DynoSpark Private Limited, incorporated on 27 July 2025, reported a turnover of nil and a net worth of ₹0.34 Lakh for the financial year ended 31 March 2026. Elevate Solar Energy Private Limited, incorporated on 16 January 2025, has no operational history yet. Both entities operate in the power generation sector using solar energy. The acquisitions are not related party transactions and do not require specific governmental or regulatory approvals beyond standard compliance.
The following table summarises the key details of both investments:
| Target Entity: | DynoSpark Private Limited | Elevate Solar Energy Private Limited |
|---|---|---|
| Investment Cost: | Upto ₹16 Crore | Upto ₹8 Crore |
| Equity Stake: | 26% | 26% |
| Project Location: | Udaipur Unit | Durg Unit |
| Project Capacity: | 25 MW (AC)/36.25 MW (DC) + 20 MWh BESS | 17.14 MW (AC)/24 MW (DC) |
| Project Implementor: | Oriana Power Limited | M/s Evolve Energy Group |
The move aligns with the company's strategy to increase the sourcing of renewable power across its plant locations.
Historical Stock Returns for JK Lakshmi Cement
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.12% | -0.66% | -8.59% | -19.85% | -25.51% | +10.83% |
How will the integration of the 20 MWh Battery Energy Storage System at the Udaipur unit impact the plant's operational resilience during grid outages?
What are the projected savings in power costs per ton of cement production once these solar facilities become fully operational?
Does JK Lakshmi Cement plan to expand this captive renewable energy model to other manufacturing facilities beyond Udaipur and Durg?
16
Access 50+ Readymade Screeners 
Use 200+ Custom Filters 
Get Full Market Insights 
